The CSS file did not download correctly, the screen reader does not support CSS, or your version of Internet Explorer is too
old for this website.

To get the best possible experience using our website, you should upgrade to a newer version of Internet Explorer, or use
other browser alternatives. If you are using a computer at work, contact your IT administrator.

For full functionality of this site it is recommended to enable JavaScript.

The increased surplus, as shown by updated figures from general government revenue and expenditure can be attributed to rising petroleum prices, increased employment and a moderate increase in government expenditure.

The price of crude oil has risen markedly since the summer of 2017. Gas prices have also remained at higher levels than in
the corresponding period last year. This yields more revenue to general government through improved operational surplus in
the State’s Direct Financial Interest (SDFI) and dividends from Equinor (previously Statoil). Furthermore, the rising oil
prices generate increased tax revenue from companies operating in the petroleum sector.

Moderate expenditure growth

Total general government expenditure has increased by nearly 4 per cent in the last four quarters. Low growth in social benefits
helped moderate the total expenditure growth. The social benefits item includes cash transfers to individuals, including retirement
pensions, disability benefits, unemployment benefits, work assessment allowance, sickness and parental benefits, education
benefits, social assistance benefits, and housing allowances. In the last four quarters, these benefits have grown by 2 per
cent. This low growth can be attributed in particular to reduced unemployment benefit expenditure owing to employment growth.